Too much debt to file??

[Overmylimit]

Thanks Gravy, I am in Northern Ca and there are lots of lawyers but the right one will be the trick......Thanks for the advice

[No Gravy]

Thanks Gravy, I am in Northern Ca and there are lots of lawyers but the right one will be the trick......Thanks for the advice

I'm in Northern CA too

You'll find the right one, I'm sure of it. You also might try looking in one of the affluent pockets towns...the lawyers there might be more used to seeing the amounts you mentioned, and thereby more well-versed in how best to proceed with your case.

Even so, go by your gut. The first law firm I interviewed/met with, I was floored when I saw their offices. Granite slab conference tables, cushy everythings (!), gave me bottled water as I walked in...but dumber than rocks in the area of bankruptcy law.

Couldn't answer 80% of my questions directly, had to go "look that up." The questions I was asking were very simple and basic... and the clincher was the policies that were in writing on their forms, were very different from what they told me verbally during the meeting.

And they took credit cards, MY credit card, for a deposit. That just didn't set well with me (though I know some attorneys will do that). My guess was, they'd drag out the filing for 90 days.

Bottom line, they didn't feel right to me.

I found out later from another attorney (who I felt very comfortable with, who answered my questions based on his experience) that they only recently began doing bankruptcies (must have smelled the money!). Some other things were said about an interaction they had with a mutual vendor...and I knew I was right not to feel comfortable with them handling anything legal for me.

I guess what I look for in an attorney is "old money" rather than "new money", if that makes sense.

Best of luck to you!

[Overmylimit]

When trying to figure out what my actual net income from my business is do I count the unsecured business lines that I used for the business? If so I would be under the threshold. However those are the same lines I would want to be discharging...

[BROKENN]

Doesn't matter OL, do the test as your last six month P/Ls or that divided by monthly (depending what test). Add your credit payments to the biz P/L. Your true P/L as proven in your bank statements. All expenses you can deduct!

If you fail the first test, the second does expenses/debt and is the one people are referring to as "over" the limit. (I'm sure, but someone correct if wrong!)

Have you tried this test? I used:

http://www.legalconsumer.com/bankruptcy/means-test/state.php?st=CA

You can see how this works then Good learning tool!

And please get an atty that is used to businesses!